American Express Joins RippleNet

This is huge news for the banking industry as it is one of the biggest step to modernize the global payment systems which didn’t really have a big improvement in years.

We already see that many will follow footsteps of Amex.

They wrote: “American Express is joining Ripple’s blockchain network to provide real-time, business-to-business global payments that will ultimately enhance their customers’ experience. Initially, American Express FX International Payments (FXIP) will partner with Santander UK to create a transaction channel between the U.S. and U.K. — a first and a boon for the corridor. The U.S. is the U.K.’s largest trading partner, creating an immediate need for frictionless commercial global payments in the U.K. market.”

What does this mean?

“Transfers that used to take days will be completed in real time, allowing money to move as fast as businesses move today. It’s just the beginning, and we look forward to growing this partnership to help other American Express FXIP customers.

Ripple Value Growth

Of course this is also good news for the Ripple investors as the Ripple value grew more than 25% in less than 30 minutes. (at the time of writing)